As a result of Michael O’Sullivan’s visit to Serbia, Cambridge Overseas Trust (COT) offered to establish PEXIM Cambridge Scholarships which would be provided for up to five students from Serbia and Macedonia annually to pursue the degree of BA or Masters (or one-year postgraduate equivalent) at the University of Cambridge.

The cost of PEXIM Cambridge Scholarships will be divided between the PEXIM Foundation and Cambridge Overseas Trust in the following manner: for BA scholarships, costs will be divided in a ratio 2:1 between PEXIM and COT (PEXIM covers 75% of the scholarship and COT 25%), and for Master’s and one-year equivalent degrees costs will be divided in a ratio 1:1 between PEXIM and COT.  At present, PEXIM Cambridge Scholarships will not be available for PhD studies..

By the end of July 2010, PEXIM Foundation will make final decision on the recipients of PEXIM Cambridge Scholarship, and in September 2010, Michael O’Sullivan will pay another visit to Serbia as well as to Macedonia to sign the Memorandum of Understanding with the PEXIM Foundation.